Advances in computer processing power and network communications have made information from a wide variety of sources available to users on computer networks. Computer networking allows network computer users to share information, software applications and hardware devices and internetworking enables a set of physical networks to be connected into a single network such as the Internet. Today, computers connected to the Internet have almost instant access to information stored in relatively distant regions. Moreover, computers connected to networks other than the Internet also have access to information stored on those networks. The World Wide Web (Web), a hypermedia system used on the Internet, enables hypertext linking, whereby documents automatically reference or link other documents located on connected computer networks around the world. Thus, users connected to the Internet have almost instant access to information stored in relatively distant regions. Currently, Internet users retrieve information from the Internet, through the Web, by ‘visiting’ a web site on a computer that is connected to the Internet.
The web site is, in general terms, an application that displays information stored on a network computer. The web site accepts connections from programs, such as Internet browser applications. Browser applications, such as Microsoft Explorer™ or Netscape Internet Browser™, allow Internet users to access information displayed on the web site.
As the number of physical networks connected to the Internet continues to grow, so too will the number of web sites that are accessible to Internet users and so too will commercial activity on the Internet. Providers of a wide range of products and/or services are continuously exploring new methods for using the Internet to accomplish business goals. Some companies use the Internet to purchase products through on-line auctions.
However, products, such as transportation and Maintenance, Repair and Operations (MRO) components, that generally require quick turnaround times cannot be purchased through on-line auctions since there is insufficient time to alert suppliers about the auction and for the suppliers to place their bids.
Most large companies have employees or expeditors that make unplanned/“spot” buys on a regular basis as necessary for a company's business. These spot buys are specifically purchases that require relatively immediate delivery. For example a manager in a large company may receive a request for transportation for immediate delivery of products. Such requests may come at anytime of the day, although they usually occur in the afternoon. Traditionally, the manager fills the spot needs by having the expeditor contact suppliers that have existing contracts with the company, one at a time. As soon as a supplier agrees to fill the need, the employee stops calling other suppliers. Since there is a preexisting contract between the supplier and the company, the employee usually follows up with the price at a later time. This method may take a lot of the expeditor's time based on the amount of spot needs that must be fulfilled. In addition, the company usually takes the first price that is quoted without taking the time to locate and compare different quotes. Thus, the company loses both time and money in these transactions.
Currently, there are companies that provide business-to-business procurement solutions, mostly through on-line exchanges or through software packages that integrate with existing desktop applications. One company offers a suite of bidding applications that can be used as standalones or integrated with major electronic procurement packages. These business-to-business procurement solutions handle complex procurement needs with extended bidding times. What is needed is a product that handles spot purchases with quick turnaround times.